Coalition accused of giving in to oil and gas industry after failure to overhaul tax

Tax Justice Network accuses Malcolm Turnbull’s government of hypocrisy on petroleum resource rent tax.

The Tax Justice Network has attacked the Turnbull government’s review of the petroleum resource rent tax (PRRT), saying its recommendation to not overhaul the tax for existing oil and gas projects is a capitulation to the industry.

IMAGE: The Turnbull government’s review of the petroleum resource rent tax recommended minimal changes to the regime for existing oil and gas projects. CREDIT: Bloomberg via Getty Images